JNK H&S measured move to 85?

It looks like the bond market is making lower lows, and China HSI as well. These are usually leading indicators telling us that risk on assets will also make lower lows.

But I believe the end is near, as you can see on the chart. This could also be a max pain fakeout as we are back testing the downtrend line. So starting to dollar cost average into some risk on assets and metal miners in the next few days/weeks is probably a good idea.

Good luck guys

Comment:

I like to look at JNK to have an idea about where all of risk-on assets are going next. And right now JNK looks like it's ready to breakout from this double/triple bottom pattern which is a good sign for risk on asset across the board.

There could be a pullback in the near future but I do believe we will be making higher lows